If you are asked that what is the basic difference between an entrepreneur and a employee you will answer that an entrepreneur makes their employee work so that both of them can earn their livelihood. It’s true but apart from that there are many other differences between an entrepreneur and an employee. An entrepreneur just does not take risk and earn profit in return but they are responsible for all the employees working with them.
Let’s chalk out the difference between an employee and entrepreneur
There is no doubt that the entrepreneur is that person in the business who takes most of the risk. He is considered to be the risk bearer while an employee is a person who is mainly inclined towards security and stability in life. They do not think about the whole action plan, but work only what is assigned to them.
The main reason that an employee develops their social skill is to improve their employment opportunities. They mostly have contact with people who are from their field or their expertise.
On the other hand, an employer is not just a person who socializes for growing their business; they socialize so that they can have a large base of people in their knowledge. They have different skills and specializing with people of their expertise is not enough for them. They need to manage their employee, abide by the law, grow trade relations and do whatever is required for growth of their business.
Attitude and Thought Process
As an employee you do not have to exercise your thought process a lot as all that is expected from an employee is to follow the instructions provide to them. On the other hand, an entrepreneur is the one who always must think out of box and gets ideas and then execute them with the help of their team. They are the one who are responsible for grabbing new opportunities and then turn them into successful business.
Vision and Foresight
It’s not that employees do not have foresight or vision but mostly they are led by their leaders. It’s the captain of the ship who sets the direction and other sailors follow it. Similarly, it’s the entrepreneur who has foresight and they decide the direction in which their business will progress. The employee as followers must follow them.
This difference between employee and entrepreneur can be continued, but at the end what is important is that an entrepreneur is the person who decides about the business, and arranges everything and its them only who arranges the employees too.